Office Unit For
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31348 Nichols Sawmill Rd, Magnolia, TX 77355
Office unit for sale featuring high-end finishes.
Property Size1,512 SF
Price / SF$281.08
Days on Market989
Property Features for 31348 Nichols Sawmill Rd
General Information
Standard status
Active
Size
1,512 SF
Class
A
Property subtype
Office
Lease Type
NNN
Net Operating Income
$40,375
Building Details
Year Built
2024
Year Renovated
2024
Buildings
1
Stories
1
Units
1
Listing Agency:
Aspire Commercial
Listed By:
Jared Starnes · License #827721
Source:
Crexi
Added: Dec 7, 2023
Changed: Aug 21
Last Checked: Aug 21 at 10:11AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Aspire Commercial
Investment Insights
Based on property information with market context.
A 1,512 square foot office unit is available for sale. The single-story building, identified as Building 12, features a private front door entrance and surface parking. The unit, designated as Unit A, is part of a professionally managed condo association and benefits from a professionally landscaped exterior. High-end finishes are present throughout the unit, and customizable floor plans and options are available.
Key Highlights
- New construction (2024) office condo with high‑end finishes.
- Customizable 1,512 sq ft floor plan.
- Private front door entrance and surface parking.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$17,726
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.17%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$354,520
$354.5K
Cap Rate 7%
$253,229
$253.2K
Cap Rate 9%
$196,956
$197.0K
Market Conditions
NOI Build-Up for 1,512 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$30.3K $20.04/SF
− Vacancy
−$6.7K −$4.41/SF
EGI
$23.6K $15.63/SF
− OpEx
−$5.9K −$3.91/SF
NOI
$17.7K $11.72/SF
Area
Montgomery County, TX
Vacancy
22.00%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$354,520
Cap Rate 7%
$253,229
Cap Rate 9%
$196,956
Alternative Uses
Best Use
Office B
$253.2K
$221.6K – $295.4K
NOI $17,726 @ 7.0% cap · market cap 4.17%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$381.7K
$334.0K – $445.3K
NOI $26,720 @ 7.0% cap · market cap 6.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
355
Businesses Nearby
Explore this area
Business Placement
Demographics for 77355, TX
29,300
Population
11,279
Households
2.6
Avg Household Size
40
Median Age
27%
College-Educated
89%
High-School Grad
55.6 sq mi
ZIP Area
527
Density / Sq Mi
$101,270
Median Household Income
$57,481
Median Earnings
$1,472
Median Rent
$329,700
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Office unit for sale featuring high-end finishes.
Where is this office units located?
The property is located at 31348 Nichols Sawmill Rd Magnolia, TX.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: New construction (2024) office condo with high‑end finishes.; Customizable 1,512 sq ft floor plan.; Private front door entrance and surface parking.
